medium of exchange
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Related to Bad money drives out good: Bad money drives good money out of circulation
medium of exchange
n. pl. media of exchange or mediums of exchange
Something, such as a precious metal, that is commonly used in a specific area or among a certain group of people as money.
medium of exchange
n
(Banking & Finance) anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc
me′dium of exchange′
n.
something generally accepted as representing a standard of value and exchangeable for goods or services.
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Noun | 1. | ![]() criterion, standard, touchstone, measure - a basis for comparison; a reference point against which other things can be evaluated; "the schools comply with federal standards"; "they set the measure for all subsequent work" money - the most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us" currency - the metal or paper medium of exchange that is presently used |
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